Quanta Services (NYSE:PWR - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday,Benzinga reports. They presently have a $714.00 price target on the construction company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 12.54% from the stock's current price.
PWR has been the topic of several other research reports. BNP Paribas Exane assumed coverage on shares of Quanta Services in a research report on Tuesday, April 14th. They set a "neutral" rating on the stock. Stifel Nicolaus set a $784.00 target price on shares of Quanta Services in a research note on Friday, May 1st. B. Riley Financial reissued a "neutral" rating on shares of Quanta Services in a research report on Friday, May 1st. UBS Group boosted their price target on shares of Quanta Services from $646.00 to $900.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group upped their price objective on Quanta Services from $685.00 to $826.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Eighteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $745.55.
Read Our Latest Analysis on PWR
Quanta Services Trading Up 0.3%
Shares of PWR traded up $1.88 during midday trading on Tuesday, hitting $634.44. 120,055 shares of the stock were exchanged, compared to its average volume of 1,163,672. Quanta Services has a 52-week low of $363.01 and a 52-week high of $788.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The stock has a fifty day simple moving average of $700.55 and a 200 day simple moving average of $600.86. The firm has a market cap of $95.20 billion, a P/E ratio of 87.07, a P/E/G ratio of 2.47 and a beta of 1.21.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The company's quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts anticipate that Quanta Services will post 12.8 EPS for the current fiscal year.
Quanta Services declared that its Board of Directors has initiated a share repurchase program on Friday, May 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
Insider Activity at Quanta Services
In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the sale, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the sale, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,992 shares of company stock valued at $123,244,714 in the last quarter. 0.60% of the stock is currently owned by company insiders.
Institutional Trading of Quanta Services
A number of institutional investors have recently bought and sold shares of PWR. State Street Corp raised its position in shares of Quanta Services by 2.1% during the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company's stock worth $2,619,626,000 after acquiring an additional 126,014 shares in the last quarter. Geode Capital Management LLC raised its holdings in Quanta Services by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company's stock worth $1,718,371,000 after purchasing an additional 110,360 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Quanta Services by 5.4% during the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company's stock worth $1,891,215,000 after buying an additional 175,184 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock valued at $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Finally, Norges Bank acquired a new stake in Quanta Services during the 4th quarter worth $817,285,000. 90.49% of the stock is owned by hedge funds and other institutional investors.
About Quanta Services
(
Get Free Report)
Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.
In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.
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